TNI BioTech, Inc. Forms New Subsidiary, Cytocom Inc., to develop LDN and MENK
ORLANDO, Fla., March 6, 2014 /PRNewswire/ -- TNI BioTech, Inc. (OTC: TNIB) announced today that it has formed a new subsidiary, Cytocom, Inc., for the purpose of developing Low Dose Naltrexone (LDN) and Met-enkephalin (MENK).
TNI BioTech has spent the last year developing a manufacturing and distribution network for sale of LDN into emerging nations and has had discussions with the FDA and EMA to begin clinical trials in the United States.
The Company has considered whether to separate (1) the development activities of the Company, and (2) the manufacturing and distribution of its novel therapies into emerging nations. Due to the differences in experience required to run a development business and a distribution business, the Company believes that now is the right time to separate these business lines before beginning its clinical trials and platform development of the biopharmaceuticals business. While both businesses have moved forward this year under single management, they have distinctly different business models, sales channels, customers, capital requirements and the need for very different management.
TNI BioTech has entered into consulting arrangements with Dr. Graham Burton, M.D., Ph.D. and Mr. Gary G. Gemignani, two biotech/pharmaceutical executives, in order to focus on the clinical advancement of LDN and MENK. It is anticipated that in the near future, Dr. Burton and Mr. Gemignani will enter into employment agreements with Cytocom to become CEO and COO/CFO, respectively.
Dr. Burton will be responsible for leading Cytocom's global development, clinical research and medical initiatives. Mr. Gemignani will be responsible for operational and business development activities and financial management of Cytocom.
About TNI BioTech, Inc.
TNI BioTech, Inc. is a biotech company working to combat chronic, life-threatening diseases through the activation and modulation of the body's immune system using our patented immunotherapy. Our products and immunotherapy technologies are designed to harness the power of the immune system to improve the treatment of cancer, infections such as HIV/AIDS, chronic inflammatory diseases, and autoimmune diseases.
Our proprietary technology, therapies and patents include the treatment of a wide range of cancers. Our most advanced clinical programs involve immunotherapy with met-enkephalin ("MENK") (sometimes referred to as opioid growth factor ("OGF")) and our Low Dose Naltrexone product ("LDN"), which have been shown to stimulate the immune system even in patients with advanced cancer. Even though management considers any condition that results in altered-immune response a target for investigation, the Company will most likely pursue additional investigations for MENK and LDN as valuable candidates in the treatment of the following: autoimmune states such as rheumatoid arthritis and multiple sclerosis; as an adjunct in cancer patients undergoing chemotherapy, radiation treatments or surgery; and as an adjunct to antibiotics in the treatment of a variety of infectious diseases, including patients with AIDS, in combination with retroviral drug therapy.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release and the statements of representatives and partners of TNI Biotech, Inc. and its subsidiaries (the "Company") related thereto include various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" used in the Company's press releases and in the Company's filings with the Securities and Exchange Commission as well as Disclosure Statements and Reports filed with the Over The Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve assumptions and significant risks and uncertainties. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release, and thus readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. Actual results may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly release any revisions to such forward-looking statements to reflect events or circumstances after the date hereof.
For further information, please see http://www.tnibiotech.com
Dennis S. Dobson
SOURCE TNI BioTech, Inc.